Bank Account for OAP's

deemy2004

When I am an OAP, I won't mind being called an OAP, as that is what retired people have been referred to for donkeys years.

Go search on the web and you will see the term OAP everywhere !

http://www.eastherts.gov.uk/community/OAP%20Guide/OAP%20booklet.pdf

margaretclare

Hi all

Deemy, you say you won't mind being called an OAP when you get to retirement age. You may feel differently then, and I agree the term has not yet dies out, but it is dying. It's about as offensive as '!!!!!!'. Get my drift?

100 years ago people retired at 60 or 65 and they really were 'old'. They'd had hard lives and old age pension was meant to just keep them out of the workhouse for the few years until they died.

Nowadays we don't feel old in our 60s. Many of us are smart, well-presented, lively, fitter and better-educated than ever before. OAP conjures up a terrible image.

I don't think you need a special type of account for this age-group, although you may not need a lot of the other services that banks sell e.g. loans, life assurance and mortgages. As I said, the type of account that works in conjunction with the Post Office is a good bet.

I agree, go to the original bank and see what they have to say. If they don't give you a good service though, as Martin has repeatedly said, there's no loyalty due, switch if you can get better service elsewhere!

I didn't realise that with a joint a/c you have to have individual statements, but then it's a long time since I've had a joint a/c. As I said, I have a cahoot a/c which I use for household bills and my husband transfers £300 every month to that account as his share. We each have a personal account, mine is with A&L, his is with RBoS. We do all our banking online and that is an advantage - we don't have to go out in the rain to 'draw our pension' in cash weekly at the PO! Perish the thought....One advantage of being retired is that you don't have to go anywhere unless you want to.

Both of us have had bad experiences in the past with joint bank accounts, and although that was in earlier lives and other marriages, we like the way we do things now. Whatever you do, wherever you bank, it has to be convenient and it has to work for you. To return to an earlier point about 'special' bank accounts for students or pensioners, people are not all the same, you can't lump us all together as 'the elderly' because probably what we do would not suit everyone, nor would what they do suit us!! We are individuals, not a homogeneous group.

Margaret

deemy2004

The Nationwide is proud to be different.
I am proud to be old.
Now that I am 18 I can see X films.

Is that 18 X 4 ?

deemy2004

Hi all

Deemy, you say you won't mind being called an OAP when you get to retirement age.  You may feel differently then, and I agree the term has not yet dies out, but it is dying.  It's about as offensive as '!!!!!!'.  Get my drift?

Margaret

Fair points....

The elderly population IS getting younger ?

margaretclare

Deemy, you're being picky. Obviously I am the same age as a person of my age a century ago. Age in years is not the issue however. I've read that a person of 60 now is the same as a person of 40 two or three generations ago. We have benefited from a more comfortable lifestyle, better healthcare, better education, better opportunities, and some of us do NOT regard ourselves as having 'one foot in the grave'.

To put the thing into perspective, at 69 I have lived longer than both my parents, my grandmother, great-grandmother and great-great-grandmother in my mother's line. Not one of them ever owned their own home, owned and drove their own car, went to school past age 14 (certainly didn't go to university as a mature student, as I did!) None of them travelled abroad - in fact none of my family ever went abroad except those who were in the Forces. None of them ever spoke another language. None of them lived in a comfortable house with enough warmth, food, clothing and enough money to make choices. All this has meant that my expectations are far different. I'm able to continue to make a contribution even if no one will pay me to work - I go to CAB as a volunteer adviser.

My husband actually changed direction aged 63 - from a career in engineering sales and management he worked for an internet service provider until his 67th birthday. Neither of us has an 'old' outlook or mindset.

We are being interviewed and photographed tomorrow by the 'Daily Express' who want our views on the government's announcement yesterday that employers will no longer be able to force people to retire before 65.

Margaret

deemy2004

Hey !

I was agreeing with you ;D

margaretclare

Thanks, Deemy. I could be getting over-sensitive.

It's that term 'OAP'. It really gets up my nose.

Best wishes

Margaret

student100

Just making your parents an appointment with their bank is probably not going to help much (the bank are obviously not going to say, "well, actually, you know, you'd be a lot better off switching to someone else...").

Maybe select a couple of possible banks to switch to and get them an appointment there, and then get them an appointment with their bank, and see who can offer them the best deal...


As far as terms for people go, I think calling an "older person" an OAP is a lot less offensive than calling a 17-year-old a "minor".

Paul_Varjak

If your parents' Post Office is nearer than their bank, it is handy to have a bank account that they can access at the Post Office.

The major banks have basic bank accounts (no overdrafts) which can be accessed at the Post Office but a few banks have full current accounts that can be accessed at a Post Office. However, you cannot always do everything at the Post Office; for instance you may not be able to pay money in or find your account balance.

I would suggest going to the Post Office and ask for their leaflet which compares the bank accounts available for use at the Post Office. I think the A&L mentioned by someone is one account where you can do most things at the Post Office.

A&L also pays 5.5% gross interest until 31/12/2005 but only if you have at least £2000 (i think) going in each month. So your parents probably will not benefit from that interest rate.

klondyke

As far as terms for people go, I think calling an "older person" an OAP is a lot less offensive than calling a 17-year-old a "minor".

Huh! We OAPs were called 'minors' until we were 21: you lot never had it so good; we can't even send you down mines any more